Fiscal Note
HB0109 - Sales and Use Tax - Food and Food Ingredients and Tax Rates
State Impact:
Passage of this bill could reduce the General Fund by $166,740,000 annually. There is also a potential reduction in earmarked water and transportation funding of $5,700,000. Local revenues will be reduced by approximately $12,910,000 annually.
Funding Source | FY 2007 Approp. | FY 2008 Approp. | FY 2007 Revenue | FY 2008 Revenue |
General Fund | $0 | $0 | ($166,740,000) | ($166,740,000) |
Restricted Funds | $0 | $0 | ($5,700,000) | ($5,700,000) |
Local Revenue | $0 | $0 | ($12,910,000) | ($12,910,000) |
Total | $0 | $0 | ($185,350,000) | ($185,350,000) |
Individual and Business Impact:
Individual impact will be dependent upon qualifying purchases in any given year.
Office of the Legislative Fiscal Analyst
1/18/2006, 9:00:05 AM